Can the Persian Gulf become the fourth largest economic circle in the future?

The Persian Gulf will definitely become the fourth largest economic circle in the future.

Economic development of countries along the Persian Gulf

Persian Gulf is a port in the northwest of Arabian Sea in Indian Ocean, located between Arabian Peninsula and Iranian Plateau. It is the place where the Euphrates and Tigris rivers flow into the sea, and it is connected with the Gulf of Oman through the the Strait of Hormuz.

There are many countries along the Persian Gulf, including Iran, Iraq, Kuwait, Saudi Arabia, Bahrain, Qatar, United Arab Emirates and Oman.

Persian Gulf is the largest oil producing area and supplier in the world. Its economy is dominated by oil production. The oil production of the Gulf and its neighboring countries accounts for more than 1/4 of the world, and the reserves account for more than half of the world. In geological history, the Persian Gulf region is a shallow sea environment, with warm climate, abundant aquatic animals and plants, a wide range of good reservoir structures, and the best conditions for oil formation and storage. The Persian Gulf region is not only rich in oil resources, but also has excellent exploitation conditions. Oil is concentrated, with an average reserve of more than 350 million tons per oilfield, which is a super-large oilfield; And most of them are distributed in offshore and land, so the transportation distance of oil pipeline is short, which is convenient for crude oil transportation. The underground pressure of oil field is high, and most oil wells are flowing wells, accounting for more than 80% of all oil wells, so its production cost is the lowest in the world. The Persian Gulf accounts for more than 60% of the world's oil exports and is the largest oil export region in the world.

With the discovery and development of oil, Gulf countries began to attach importance to the development of military forces to protect their respective oil resources. There are many military bases and important ports near the bay. In addition, there are abundant fishery resources along the Persian Gulf.

Here is a brief introduction to the countries along the Persian Gulf:

The Islamic Republic of Iran is located on the Iranian plateau in southwest Asia. High mountains surround the whole territory of Iran, with large deserts and salt lakes in the central basin and some plains in the southwest. Iran is rich in mineral resources, and its oil and natural gas output ranks among the top in the world.